Minerva Intelligence Announces Tech Entrepreneur Jason Petralia to Join Board of Directors, Closing of Recent Private Placement

VANCOUVER, BC, April 1, 2021 /CNW/ - Minerva Intelligence Inc. MVAI ("Minerva" or the "Company") announced today the appointment of Jason Petralia, a tech entrepreneur, to the Board of Directors for the Company. Mr. Petralia will help spearhead a new initiative expanding the powerful Artificial Intelligence (AI) tools Minerva has built for mining, exploration and climate impact analysis into other domains, such as finance and healthcare. Mr. Petralia will be replacing long-time board member Kevin Thomas effective April 1.

 "We thank Kevin for his many contributions to Minerva and welcome Jason, whose combination of talent and experience will be valuable to Minerva's commercial prospects moving forward as we seek out new verticals where our cognitive AI can be leveraged," said Scott Tillman, CEO of Minerva Intelligence. "Our unique technology amplifies human intelligence and the solutions we have developed to date have proven to be highly valuable for our clients in economic geology and climate change analysis. However, our platform has the ability to be industry agnostic and offers tools for a wide scope of industry verticals. Tapping into Jason's resources and experience will allow us to quickly and efficiently determine the best use cases for our technology platform moving forward." 

Jason is a tech innovation leader, investor, and advisor, having pioneered multiple product initiatives in a number of areas including consumer healthcare, fitness, retail, games, gaming, start-ups, software, education, medical devices, usability, analytics, productivity, entertainment and more, ranging from Fortune 500 companies to emerging start-ups.  Most recently, Jason was SVP of Content at Skillz, Inc SKLZ.

"I'm humbled and excited to join Minerva's Board and look forward to a working closely with leadership in reliably scaling Minerva," said Petralia. 

Additionally, Minerva announced the closing of a non-brokered private placement of 1,200,000 units at a price of $0.15 per unit for gross proceeds of $180,000. Each unit comprised of one common share of the company and one common share purchase warrant of the company. Each warrant is exercisable at a price of $0.20 per share for a period of 24 months from the closing date of the offering. Mr. Tillman and Jason Petralia were significant participants of this offering. 

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Minerva Intelligence, Inc.

Minerva Intelligence Inc. is a knowledge engineering company based in Vancouver, BC, Canada, with a subsidiary office in Darmstadt, Germany. Their proprietary evidence-based decision-making software is bringing the benefits of artificial intelligence technology to industries dependent on reasoning with complex technical and scientific data.

Although Minerva's applications currently focus on earth science-related domains including natural hazards and mineral exploration, their technology has application in diverse industries and domains.

Minerva's common shares are currently listed on the TSX Venture (symbol MVAI).

For further details, please refer to their website www.minervaintelligence.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons," as such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such registration is available.

Cautionary Note Regarding Forward-Looking Statements

Forward Looking Information: This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the availability of financing to the Company are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE Minerva Intelligence Inc.